What metrics should you use to measure the success of your DXP strategy?
DXPs have a multifarious nature, which consists of different components such as analytics, process, engagement, and content. Together, all these components feed into Data Hub. The brands that use digital experience platforms continuously deploy and improve mobile, portals, websites and other digital experiences by understanding how their audience interacts with their DXP components. Even though DXPs aren’t a uniform platform, there are certain ways to measure the success of a digital experience platform.
Goal for Metric Evaluation
For any business, the goal for metric evaluation should be seen in context with the attributing action for a measurable outcome. This may vary from organization to organization. Overall, the metrics to measure the success of DXP strategy can be divided into tactical, foundational, and strategic categories.
Foundational and Tactical Metrics
In relation with the sales enablement, these metrics fall into the questions of ‘who,’ ‘what’ and ‘why’. The foundational and tactical metrics enable a brand in recognizing the impactful and beneficial content. Later, the content team can prioritize content in future by targeting specifics.
Who is using your DXPs? This metric involves identifying your real customer base. Certain segments of customers are more significant from a business perspective. It is for this customer base that a brand would want to make the experience seamless and frictionless. The ‘who’ metric can be used effectively for behavior modelling, and also form metrics for strategic-level.
What are they using when they use your DXP? Ideally, a business wants to deliver a customer experience that delights its prospects throughout the purchase lifecycle. This would unfortunately mean that you’re taking on too much; especially if you have just started. Therefore, a business must identify the “moments of truth” to measure DXP strategy, and use the insights for improving them.
How are they using the DXP? An understanding into the how metric of constituent groups helps in illuminating whether the customer is following the intentional use case, or is forming undesirable habits.
Strategic Metrics
Strategic metrics is the application part of the tactical and foundational metric. Mixing the ‘why’ and ‘how’ part with the data can highlight efficiency of strategic initiatives. This metric requires a business to use tools which co-relate to sales, cost structure, and revenue. This should be seen as directional, instead of definitive. What metrics your business uses here depends upon what is essential for an organization, and how does the tool you’re using support your goals. Depending upon the niche and goals, brands can use the following tools for measurement.
CSAT or customers’ satisfaction- It is the measurement of the ‘what’ and ‘how’ part of a customer journey. What does a customer feel about your product/service quality, and how do they feel- gives a clear CSAT across the funnel. The surveys conducted for CSAT must however, include all touchpoints of a customer journey; and must be followed-up with feedback/ review questions.
NPS or Net Promoter Score- The two questions that brands use commonly across the industries, can be apt to gauge customer engagement. These questions include: ‘will you recommend the XYZ brand to others?’ followed by another question ‘Why did you give X rating?’. The questions can be used to understand customer loyalty, engagement, and willingness to promote a brand organically.
CES or Customer Effort Score- In a report by CEB Global, it is seen that when a customer puts in more effort, the level of loyalty goes down. The factors which together contribute to customer loyalty include Repeat contacts, Channel switching, Transfers, Repeating information, Robotic service, Policies and processes customers have to endure and the “Hassle factor.” Disloyalty of a customer can be mitigated by reducing customer effort. CES is used by brands to understand simplicity, and ease of navigation around the DXP.
How to collect customer insights?
Some of the good ways to collect customer insights are DCX surveys, website analytics, and integration of a real-time tracking software.
Measuring the success of DXP strategy is the first step to provide a great digital customer experience. By measuring on the given metrics, brands know how, and what efforts are directly impacting the business sales and ROI. The marketers must therefore continuously measure their DXP strategy for getting the better results down the line.
